BOOK Summary: Lucky or Smart?

by Bo Peabody, published in 2004

10 Points for the W2W Ventures Community from Lucky or Smart?

1. Successful entrepreneurs are often smart enough to realize when they are lucky and learn to create a lucky environment.

2. "Fundamentally innovative, morally compelling, and philosophically positive companies" will attract smart people willing to work hard. This creates an environment that fosters lucky opportunities.

3. Strive to create an aura of authenticity. Communicate your message with charisma and passion. Again, this will attract smart passionate people who will create a luck oriented environment.

4. "All but the most hardened human beings want more than just money... people want to make money and feel good about it."

5. The author labels successful entrepreneurs as "B Students" - those moderately good at a lot of things. Good managers are "A Students." A successful entrepreneur knows how to attract and keep the "A Students."

6. A good decision made quickly is better than a great decision made slowly. Greatness requires a lot of time - start-ups move too quickly to allow a pursuit of greatness with every decision.

7. Start-ups attract odd people. Be prepared to attract, work with and enjoy odd people.

8. Train yourself not to shut-down when you hear the word "no."

9. Remain calm and gracious in ALL business situations. The business world is small.

10. Control your ego. Don't believe the press about you or your company. This is a hard to mix with entrepreneurial blind passion.